About This Property
Excellent 1.7-acre (6,879 m² / 74052 sq ft) development opportunity is located on a quiet road in Nanaimo’s desirable Uplands neighbourhood, a community known for its natural beauty and predominantly single-family homes. Zoned R1 (Single Dwelling Residential), the property supports low-density residential development with minimum lot sizes of 500 m² (5,382 sq ft) for standard single-family lots or 450 m² (4,844 sq ft) for lane-access parcels. Under the Official Community Plan, the property is designated “Suburban Neighbourhood,” an area oriented toward low-rise residential development with a target density of 25 units per hectare. Typical supported building forms include single-family homes, duplexes, triplexes, fourplexes, and townhomes, and given the size of the site, it could accommodate approximately 25 units. The property offers approximately 35.01 m (115 ft) of frontage and an average depth of 127.45 m (418 ft), providing excellent flexibility for subdivision or multi-unit planning. Gently sloping to the southeast, the land is serviced at Opal Road with water, sewer, and storm connections. Ideally situated close to schools, parks, shopping, and all major amenities, this property presents an outstanding opportunity for builders, developers, or investors looking to create a well-designed residential enclave in one of Nanaimo’s most sought-after areas. Great holding property with an existing decent sized 4-bedroom 2-bath home, carport with attached shop, garden shed, and open air 3 car carport. Land Assembly totaling 4.9 acres available, Detailed Information package available on request. (id:64973)
The $1,850,000 price tag for this 1.7-acre Nanaimo property translates to approximately $25 per square foot, significantly below the city's median land value. This sizable lot size and R1 zoning make it an attractive opportunity for a small-scale residential developer seeking to build out a multi-unit project in the desirable Uplands neighborhood. Given the property's development potential and location in a sought-after community, this listing will likely appeal to experienced real estate investors or builders who can capitalize on the favorable zoning and maximize the site's capacity for low-density residential construction.
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